Al-Ula conference on emerging market economies kicks off

JEDDAH, Feb 8 (KUNA) -- The second edition of Al-Ula Conference on Emerging Market Economies 2026 officially commenced Sunday organized in partnership with the Saudi Ministry of Finance and the International Monetary Fund (IMF).
Saudi Finance Minister Mohammad Al-Jadaan said in his opening remarks that the conference comes at a time when the global economy is witnessing profound changes, requiring coordinated policies and strategic measures to support sustainable growth.
Al-Jadaan highlighted that emerging and developing economies drive global growth, representing nearly 60 percent of output and over 70 percent of expansion, while facing rising debt risks, slower trade growth, and heightened geopolitical exposure.
He stressed that these structural challenges require credible, coordinated policies, macroeconomic stability, disciplined fiscal frameworks, prudent debt management, strong institutions, transparency, and active international cooperation to support sustainable growth.
IMF Managing Director Kristalina Georgieva said last year's inaugural conference highlighted emerging markets' growing role, noting they now represent over 56 percent of the global economy and require strategic policy support.
She emphasized the need for private sector engagement, youth skills development, regional and international coordination, and trade promotion to sustain growth, strengthen resilience, and help emerging markets navigate complex economic and financial challenges.
The conference, concluding Monday, brings together finance ministers, central bank governors, international financial leaders, and top economists to discuss global trade, monetary and financial system challenges, and structural transformation risks, reflecting the Saudi Ministry of Finance-IMF partnership and Saudi Arabia's growing international economic role. (end) fn.ahm